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Season 1

Citi hosts will be joined by guest experts to offer a lens into the financial markets. Unpacking the most relevant and timely topics, delving into why they matter and how they impact investors and consumers. Listen on Spotify, Apple, or wherever you get your podcasts.

Research @ Citi

Research

Transcript 

Donald Trump was elected to a second U.S. presidential term this week as the world watched the results unfold into the early hours of Wednesday morning. In this special edition of Research @ Citi, Rob Rowe is joined by Scott Chronert, Head of U.S. Equity and ETF Strategy, and Dan Tobon, Head of G10 FX Strategy, to discuss how the financial markets were trading in the runup to the election, and what they’ll likely be focusing on in a second Trump administration.&nbsp;<o:p></o:p><o:p></o:p>This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should not be relied upon as an assessment of suitability for you of a particular product, security, or transaction. The information in this podcast is based on generally available information and, although obtained from sources believed by Citi to be reliable, its accuracy and completeness are not guaranteed. Past performance is not a guarantee or indication of future results. This podcast may not be copied or distributed, in whole or in part, without the express written consent of Citi. © 2024 Citigroup Global Markets Inc. Member SIPC. All rights reserved. Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world.<o:p></o:p>

Rob Rowe is Head of the Global Strategy and Macro Group (GSMG) as well as the U.S. Regional Director of Research. GSMG unites all of Citi's economists with fixed income, FX, equity and commodities strategists to create a common team providing research on the world's major economies and asset classes. Rob has been with Citi for 30 years serving in various capacities. He originally joined Smith Barney Harris Upham &amp; Company in 1989, working in investment banking, fixed income sales and research.&nbsp; In addition to his managerial responsibilities, he continues to provide portfolio strategy for select clients as part of his previous role overseeing the Global Bond Portfolio Analysis team. He has written numerous articles and publications on fixed income and portfolio strategy.<o:p></o:p>

Rob Rowe, Head of Global Strategy and Macro Research and U.S. Regional Director of Research 

Scott Chronert is a Managing Director at Citi Research serving several roles, including U.S. Equity Strategist, Global Head of ETF Strategy &amp; Analysis, and U.S. Small/Mid Cap Strategy. Scott assumed the U.S. Equity Strategy role at Citi in October 2021. He brings a fundamental approach to assess the U.S. equity landscape. Regarding ETFs, Scott and his team have been at the forefront of sell-side, institutional-grade analysis of the ETF ecosystem since 2012. His product covers all facets of ETFs, including broader industry trends, flow analysis, and stock and market impacts, complemented with positioning views covering most asset classes and geographies. His work on U.S. Small/Mid Cap provides a blend of top-down and stock-specific insight. Scott also contributes to Citi’s global equity strategy product. Prior to joining Citi Research in 2010, Scott spent more than 25 years in institutional equity sales and management roles (mostly at Citi). Scott is a graduate of Dartmouth College (AB degree, 1978) and UCLA Graduate School of Management (MBA degree, 1980).<o:p></o:p>

Scott Chronert, Head of U.S. Equity and ETF Strategy, Citi Research

Daniel Tobon is Head of G10 FX Strategy at Citi Research. Prior to rejoining Citi, Daniel was a macro strategist at Millennium. Daniel previously worked at Citi from 2012-2021 as an FX Strategist in Citi Markets in both New York and London. He began his career at BlackRock. Daniel holds an MBA from the NYU Stern School of Business and a Bachelor’s degree in Political Science from the Villanova University.<o:p></o:p>&nbsp;<o:p></o:p>

Daniel Tobon, Head of G10 FX Strategy, Citi Research

Donald Trump was elected to a second U.S. presidential term this week as the world watched the results unfold into the early hours of Wednesday morning.&nbsp;

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E14: Trump 2.0 and the Markets

Transcript

The UK economy is broadly perceived to have stagnated, its growth having fallen behind that of many peer nations. Productivity growth in particular has shifted from moving in lockstep with the U.S. to decoupling from it since the Global Financial Crisis. What’s behind the UK’s lackluster performance? And what’s needed to change its trajectory? Join Lucy Baldwin and Citi’s Chief UK Economist Ben Nabarro as they look under the hood of the UK economy and discuss its prospects for charting a better path.&nbsp;This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should not be relied upon as an assessment of suitability for you of a particular product, security, or transaction. The information in this podcast is based on generally available information and, although obtained from sources believed by Citi to be reliable, its accuracy and completeness are not guaranteed. Past performance is not a guarantee or indication of future results. This podcast may not be copied or distributed, in whole or in part, without the express written consent of Citi. © 2024 Citigroup Global Markets Inc. Member SIPC. All rights reserved. Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world.<o:p></o:p><o:p></o:p>&nbsp;<o:p></o:p>

Lucy Baldwin is a Managing Director and Global Head of Citi Research. She is responsible for managing Citi’s global independent research across all asset classes. Lucy joined Citigroup in April 2021 from Credit Suisse, where she was Global Head of Equity Sales. Prior to Credit Suisse, she was at Bank of America as Head of European Equity Sales (2015-2019), and at Goldman Sachs as a Director of European Equity Research and in a variety of research analyst roles (2006-2015). Lucy started her career at Cazenove as an equity research analyst covering the building materials sector. She graduated from the University of Birmingham in Economics. Lucy serves as a member of Council for the University of Birmingham and sits on the Investment Sub-committee. Additionally, she is a member of the Advisory Council for the Mossavar-Rahmani Centre for Business and Government at the Harvard Kennedy School.<o:p></o:p>

Lucy Baldwin, Head of Citi Research

Ben Nabarro is Citi Research’s Chief UK Economist. He joined Citi in 2016 and is based in London, having previously worked on Citi’s macro-thematic research writing on issues such as inequality and migration. Ben has a degree in Politics, Philosophy and Economics from the University of Oxford and has also studied at Stanford University.<o:p></o:p>

Ben Nabarro, Chief UK Economist

The UK economy is broadly perceived to have stagnated, its growth having fallen behind that of many peer nations. Productivity growth in particular has shifted from moving in lockstep with the U.S. to decoupling from it since the Global Financial Crisis.&nbsp;

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E15: UK — Charting a Better Path

The global industrials sector is being reshaped by a series of distinct — yet interrelated — tectonic shifts, with critical implications for industrial policy and corporate strategy. Rising protectionism, fallout from the war in Ukraine, lingering effects from the pandemic, technology disruption, and the green transition all make for a complex set of challenges — and opportunities. Join Lucy Baldwin and Martin Wilkie, Co-Head of Industrial Tech &amp; Mobility at Citi Research, as they examine each of these shifts in detail and discuss what it will take to navigate them successfully.This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should not be relied upon as an assessment of suitability for you of a particular product, security, or transaction. The information in this podcast is based on generally available information and, although obtained from sources believed by Citi to be reliable, its accuracy and completeness are not guaranteed. Past performance is not a guarantee or indication of future results. This podcast may not be copied or distributed, in whole or in part, without the express written consent of Citi. © 2024 Citigroup Global Markets Inc. Member SIPC. All rights reserved. Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world.<o:p></o:p><o:p></o:p><o:p> </o:p>

Lucy Baldwin, Head of Citi Research  

Martin Wilkie is Co-Head of the Industrial Tech &amp; Mobility Super-Sector at Citi Research. He has been an industrials analyst since 2003, having had various other roles in banking since 1994. He is based in London and started with Citi in 2015. Martin previously worked at Deutsche Bank from 2006 to 2015 also covering the Capital Goods sector, having also worked previously at Morgan Stanley and JP Morgan. Martin has an MBA with distinction from London Business School.<o:p></o:p>

Martin Wilkie, Co-Head, Industrial Tech & Mobility 

The global industrials sector is being reshaped by a series of distinct — yet interrelated — tectonic shifts, with critical implications for industrial policy and corporate strategy.&nbsp;&nbsp;

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E16: Tectonic Shifts — The New Era for Industrial Policy

Citi’s Global Healthcare Conference is under way, and there’s no shortage of topics for discussion. In this episode, healthcare analysts Geoff Meacham and Joanne Wuensch chat with Lucy Baldwin about developments in their respective sectors, including policy implications from the incoming Trump administration, new indications for GLP-1 drugs, upbeat outlooks for innovation and M&amp;A, demographics as a driver of demand, and the impact of China.This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should not be relied upon as an assessment of suitability for you of a particular product, security, or transaction. The information in this podcast is based on generally available information and, although obtained from sources believed by Citi to be reliable, its accuracy and completeness are not guaranteed. Past performance is not a guarantee or indication of future results. This podcast may not be copied or distributed, in whole or in part, without the express written consent of Citi. © 2024 Citigroup Global Markets Inc. Member SIPC. All rights reserved. Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world.

Lucy Baldwin is a Managing Director and Global Head of Citi Research. She is responsible for managing Citi’s global independent research across all asset classes. Lucy joined Citigroup in April 2021 from Credit Suisse, where she was Global Head of Equity Sales. Prior to Credit Suisse, she was at Bank of America as Head of European Equity Sales (2015-2019), and at Goldman Sachs as a Director of European Equity Research and in a variety of research analyst roles (2006-2015). Lucy started her career at Cazenove as an equity research analyst covering the building materials sector. She graduated from the University of Birmingham in Economics. Lucy serves as a member of Council for the University of Birmingham and sits on the Investment Sub-committee. Additionally, she is a member of the Advisory Council for the Mossavar-Rahmani Centre for Business and Government at the Harvard Kennedy School.

Geoff Meacham, Ph.D., is a Managing Director at Citi Research, covering both the U.S. Pharmaceuticals and Biotechnology sectors. Prior to joining Citi in September 2024, Geoff covered the Pharma / Biotechnology sectors for 20+ years at Bank of America and Barclays, as well as JP Morgan Chase and UBS. Prior to joining Wall Street, he conducted R&amp;D at Solvay Pharmaceuticals. Geoff has a Ph.D. in Molecular and Cellular Biology from University Alabama-Birmingham (UAB) and a B.S. in Biology/Microbiology from the University of Georgia.

Geoff Meacham, Pharmaceuticals & Biotechnology Analyst

Joanne Wuensch is a Managing Director at Citi Research covering Medical Technology and Hospital Supplies companies. Prior to joining Citi in January 2020, she spent 18 years at BMO Capital Markets covering MedTech with a focus on the cardiology, diabetes, orthopaedic, ophthalmology and respiratory sectors. She also spent time at ABN Amro, ING Barings, UBS Securities and JP Morgan. Joanne has a MPA from New York University focusing on public finance including hospital finance and a BA degree in psychology from the University of Delaware.

Joanne Wuensch, Medical Technology & Hospital Supplies Analyst 

In this episode, healthcare analysts Geoff Meacham and Joanne Wuensch chat with Lucy Baldwin about developments in their respective sectors.<o:p></o:p>

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